Plata Advanced Project

Plata is a 3829-hectare concession package with 17 known mineralized veins at surface with widths ranging from 0.6 to 1.0 meters. The project is located 150 km east of Peru’s prominent Pan American highway in the Lircay district, Huancavelica region of south-central Peru and it is accessible by a paved road of 445 km from Pisco to Licapa, followed by a 34 km of dirt road to the project. It is located 24 km south of Julcani (Ag-Pb-Cu) and 30 km west of San Genaro (Ag-Pb-Zn).

Plata is located within the epithermal vein belt with polymetallic mineralization, which is related to the Chonta and Huachocolpa-Huancavelica fault systems. The vein orientations are E-W, typical of the anti-Andean trend, and they are intersected by Andean-oriented faults. The most important and extensively developed structures are Rico Antionio and Esperanza 2001, with lengths of 1.8 km and 3.6 km, respectively. Buenaventura (BNV) has conducted a total of 37,000 meters of underground development, reaching level 520 (4460 masl).

Plata is an epithermal intermediate sulfidation polymetallic vein system hosted in the volcanic rocks of the Apacheta formation. The system consists of 17 veins of quartz, quartz-calcite, quartz-barite, and barite with Ag-Pb-Zn mineralization in galena and sphalerite. The veins have an E-W orientation with subvertical dips and are confined between regional NW-SE structures of Andean trend.

Previous historic mining operations targeted and extracted approximately 1,824,676.10 metric tonnes of material with an average silver equivalent grade of 16.03 oz/t through selective underground methods. The results of historical sampling and prior development work provide evidence for the existence of higher-grade mineralization at depths below 4460 masl, indicating further exploration potential.